Palisade Capital Management LP Trims Stake in VERRA MOBILITY CORP (NASDAQ:VRRM)

Palisade Capital Management LP lessened its position in VERRA MOBILITY CORP (NASDAQ:VRRM - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,401,450 shares of the company's stock after selling 13,115 shares during the period. VERRA MOBILITY accounts for about 0.9% of Palisade Capital Management LP's portfolio, making the stock its 26th biggest holding. Palisade Capital Management LP owned about 0.88% of VERRA MOBILITY worth $31,547,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VRRM. Teacher Retirement System of Texas bought a new stake in VERRA MOBILITY during the 1st quarter worth approximately $541,000. Peregrine Capital Management LLC increased its holdings in VERRA MOBILITY by 3.4% in the first quarter. Peregrine Capital Management LLC now owns 559,909 shares of the company's stock valued at $12,604,000 after purchasing an additional 18,620 shares during the period. Illinois Municipal Retirement Fund increased its holdings in VERRA MOBILITY by 10.0% in the first quarter. Illinois Municipal Retirement Fund now owns 95,803 shares of the company's stock valued at $2,157,000 after purchasing an additional 8,697 shares during the period. Oppenheimer Asset Management Inc. raised its position in VERRA MOBILITY by 32.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company's stock worth $258,000 after purchasing an additional 2,823 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in VERRA MOBILITY by 30.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 37,276 shares of the company's stock worth $839,000 after buying an additional 8,631 shares during the period.

VERRA MOBILITY Price Performance

Shares of NASDAQ:VRRM traded up $0.11 on Thursday, hitting $25.64. The company's stock had a trading volume of 339,400 shares, compared to its average volume of 1,160,205. The company has a market capitalization of $4.09 billion, a PE ratio of 128.18, a PEG ratio of 2.45 and a beta of 0.77. The company has a debt-to-equity ratio of 3.45, a current ratio of 2.19 and a quick ratio of 2.10. The company has a 50-day simple moving average of $23.83 and a 200 day simple moving average of $23.72. VERRA MOBILITY CORP has a 1 year low of $19.51 and a 1 year high of $31.03.

VERRA MOBILITY (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. VERRA MOBILITY had a return on equity of 51.05% and a net margin of 3.88%. The firm had revenue of $223.25 million during the quarter, compared to analyst estimates of $216.94 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company's revenue was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that VERRA MOBILITY CORP will post 1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRRM has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of VERRA MOBILITY from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group dropped their price target on shares of VERRA MOBILITY from $31.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley reduced their target price on shares of VERRA MOBILITY from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Finally, Baird R W upgraded shares of VERRA MOBILITY from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $27.38.

Insider Transactions at VERRA MOBILITY

In other VERRA MOBILITY news, insider Jonathan Keyser sold 18,719 shares of VERRA MOBILITY stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.28, for a total value of $454,497.32. Following the transaction, the insider directly owned 1,179 shares of the company's stock, valued at $28,626.12. The trade was a 94.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is currently owned by insiders.

VERRA MOBILITY Company Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.